U.S. Democratic Senators Elizabeth Warren and Ron Wyden sent letters this week to Tether CEO Paolo Ardoino and U.S. Commerce Secretary Howard Lutnick, expressing concerns about Tether's loan to a family trust fund with Lutnick's children as beneficiaries. The letter notes that Lutnick previously led Cantor Fitzgerald, which has served as custodian of Tether's reserves since 2021. The senators questioned whether the loan could have assisted Lutnick's children in obtaining funds to acquire their father's shares in Cantor Fitzgerald, and expressed concern that this involved bribery or other improper conduct. Furthermore, the senators expressed concerns about Tether's past compliance record and its lobbying efforts during the GENIUS Act legislation process, emphasizing the need to ensure that politically connected crypto stakeholders do not receive preferential treatment. (The Block)